How do you recognize a profitable residual income opportunity? Evaluating potential sources of long-term income is part of the process in building your online business. Wasting time and resources on dead ends and sites that don’t earn proves to be the nail in the coffin for many would-be online entrepreneurs who become discouraged and give up after initial failures.
But the fact is, there will be failures — large and small –along the way. The key is to minimize them and learn from them so that your success is long-term and far outweighs any previous mistakes.
First realize that the principal determination of success versus failure is yourself. You can stumble across an amazing opportunity, yet flub it because you don’t put in the necessary effort to see success. Conversely, you can work tirelessly at what is really only an average opportunity and yet see incredible success based on your steady, long-term efforts. Your own work ethic and the amount of time, research and good old work you put into a thing will be a large part of your success.
Of course, it would make sense to put your efforts into something where your success will reflect the amount of work you’re doing. So what do you look for?
Past success: Have other writers earned well on the website you’re considering writing for? Have ebooks on the general topic you’re writing about sold well? The past can help indicate the future, but remember that the web is constantly changing. You can break old barriers and a great website of yesterday can go under tomorrow.Demand: How many people are actively searching for the keywords you are building a website around? How many shoppers are looking to buy the product you want to sell? Don’t write a whole site around a topic nobody cares about.Competition: If there already a dozen well-written sites on your micro niche topic, you might want to look for a less-saturated topic. Are there very few search results for the long-tail keyword you’re writing an article series on? Then jump on it!Attraction: Do you love the new user-generated-content site you found? Are you passionate about a niche topic you’d like to write about? Even if the other aspects don’t quite add up, your attraction to a particular site or topic may me all the motivation you need to make it a success.You can truly make your own residual income opportunity in this era of the internet and mobile communication. Now go do it!
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